IC11 PRACTICE OF GENERAL INSURANCE EXAM – 08

Q1.On what does the Carriage of goods by sea act determine the liability?
 Marine port warehouse receipt
 Transporters challan
 Airways bill
 Bill of Lading
 Railway receipt

 

Q2.____ can intervene in the affairs of an insurer.
 RBI
 Finance Ministry
 State Government
 Policy holder
 IRDAI

 

Q3.From the given options, the renewal notice is effected by ___.
 payment of penalty
 payment of renewal charges
 payment of premium
 payment of bonus
 payment of insurance charges

 

Q4.The special declaration deposit premium of 100% of the premium on the sum insured is based on the _____ (marine insurance).
 Estimated next year’s turnover
 Current year’s turnover
 Previous year’s turnover
 Last two year’s turnover
 First year’s turnover

 

Q5.What is the final process know as to where the selected techniques have to be implemented by the firm through the different functional managers?
 Management of Risks
 Voluntary deductibles
Risk-retention
 Implementation
 Risk evaluation

 

Q6.Which social peril is included in Standard fire insurance?
 Explosion
 Lightning
 Landslide
 Floods
 Riot

 

Q7.Which is the treaty in which the arrangement can be per risk or per event/accident?
 Excess of loss treaty
 Excess of profit treaty
 Proportional treaty
 Reinsurance treaty
 Facultative treaty

 

Q8.Mr. X has a factory and he fears that excess rains will cause flooding, so he plans to shift the factory’s location to a safer place. This is called ____.
 Risk avoidance
 Risk evaluation
 Risk identification
 Risk detection
 Risk control

 

Q9.Who is exempt from the IRDA prescribed compulsory training for various intermediaries?
 Surveyors
 TPAs
 Brokers
 Corporate agents
 Risk engineers

 

Q10.Employment Practices fall under what type of risk?
 Strategic risk
 Operational risk
 Knowledge management risk
Compliance risk
 Financial risk

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